Personal Bankruptcies Continue Soaring

Yahoo News AP -- The record-setting pace of new personal bankruptcies continued this year, with their number rising 7.4 percent in the 12 months ended March 31, according to data released Thursday.

"There is still a big slug of individuals with problem debt still working their way through the (bankruptcy court) system," said Samuel Gerdano, executive director of the American Bankruptcy Institute, a group of bankruptcy judges, lawyers and experts.